It’s a funny old World. I’ve just finished reading a piece where someone was banging on about global deflationary fears and the first thing I see when I return to the wires are these comments from Bank of Israel Governor Stanley Fischer.
Mr Fischer, apparently a renowned economist who is one of the world’s most listened to central bankers, says central banks will need to start “withdrawing” liquidity from the financial system in time to prevent a rise in inflation and another financial bubble, but warns that they mustn’t do it prematurely. He is confident the banks will act in time.